So you have decided to sell your home, great! One step closer to climbing that property ladder. But, do you have to sell with an estate agent? Or is there another way of selling your property?
Do I need an estate agent?
Selling a property through an estate agent has always been the traditional method, however you don’t have to follow it.
There are multiple ways to sell your home, and using an estate agent is just one of them.
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Why may I not want to use an estate agent?
Not using an estate agent is becoming more popular. Many of us are looking for other methods to an estate agent. Usually, this is because certain agents come with expensive fees. Estate agents are allowed to take a percentage of a property’s sale to cover all their fees.
Additionally, people choosing not to sell to estate agents because they don’t find them very trustworthy. According to a survey created by Move IQ, 14% of those asked said they didn’t trust estate agents.
So, how can I sell without the help of an estate agent?
There are a few different routes and avenues you can take. Including:
- Selling it yourself
- Going through a cash house buyer
- Using an Auction
- Part Exchange a property
Selling it yourself
Doing it yourself can be a cheaper way and more effective IF you have the time to do it. When you consider selling a property, there are many factors that needed to be covered in order to make sure you have a smooth sale. If you decide to sell yourself, you need to make sure you:
- Make your house ready to sell – fix any little fixes and give your property overall a bit of TLC
- Write a description and set a price so you can advertise your property
- List the property – this could be either online or through a local or national paper
- The next step will be to arrange any viewings at the property
- When you find the right buyer, you will need to negotiate and accept an offer
- You will need to instruct a solicitor
- Surveyors will be asked to conduct a survey
- Once all the paper work is in order then finally you will exchange contracts
It is a rather lengthy and time consuming process. So, if you decide to sell with this method, be ready!
Cash House Buyer
Another option to sell your property without an estate agent is to use a cash house buyer. Usually they will only pay for up to 80% of your property’s market value. Although, most will pay for your legal fees.
It is very important to research into these companies cause some may add extra costs at the end.
If you are wanting to purchase a new build, some developers will part exchange.
The process starts by a representative from the developer coming to value your property. This usually leads to them offering you 65-70% of it’s market value.
The main benefit to part-exchanging is you don’t have to be part of a chain because you will have already sold your property.
This is a riskier way of selling your home but could be beneficial. Your property would be put on an auction where people bid for the property. In usual cases, the buyer has 28 days to pay around 90% of the agreed price.
This is a risky way to sell as there is no guarantee you will sell your property for the price you need or want.
I started writing for PPO back in August 2019. I particularly enjoy writing about new housing developments and upcoming property events.